Palvella Therapeutics (NASDAQ:PVLA) Shares Break Above 200-Day Moving Average After Insider Selling

Shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA) passed above its two hundred day moving average during trading on Monday after an insider bought additional shares in the company. The stock has a two hundred day moving average of $125.77 and traded as high as $127.20. Palvella Therapeutics shares last traded at $126.23, with a volume of 110,504 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Chardan Capital began coverage on shares of Palvella Therapeutics in a report on Monday, September 21st. They issued a “buy” rating and a $240.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Palvella Therapeutics in a research report on Tuesday, October 20th. Canaccord Genuity Group set a $232.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Friday, September 25th. Finally, William Blair started coverage on shares of Palvella Therapeutics in a research report on Friday, October 16th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.79.

Palvella Therapeutics Trading Up 0.9%

The company has a 50-day moving average of $141.83 and a 200-day moving average of $125.77. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -26.13 and a beta of -0.27.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.35). On average, research analysts expect that Palvella Therapeutics, Inc. will post -6.41 EPS for the current year.

Institutional Investors Weigh In On Palvella Therapeutics

Large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Palvella Therapeutics in the 2nd quarter valued at approximately $140,343,000. First Light Asset Management LLC grew its position in Palvella Therapeutics by 38.3% during the 1st quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock worth $122,251,000 after purchasing an additional 271,617 shares during the last quarter. Jennison Associates LLC grew its position in Palvella Therapeutics by 65.3% during the 1st quarter. Jennison Associates LLC now owns 640,611 shares of the company’s stock worth $79,852,000 after purchasing an additional 253,128 shares during the last quarter. Primecap Management Co. CA acquired a new position in Palvella Therapeutics during the 2nd quarter valued at approximately $39,150,000. Finally, Siren L.L.C. increased its stake in Palvella Therapeutics by 243.3% during the 1st quarter. Siren L.L.C. now owns 257,485 shares of the company’s stock valued at $32,096,000 after purchasing an additional 182,485 shares in the last quarter. Hedge funds and other institutional investors own 40.11% of the company’s stock.

About Palvella Therapeutics

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical-stage biopharmaceutical company focused on developing treatments for patients with serious rare diseases, including conditions that may have limited or no approved therapeutic options.

The company’s development programs are based on its QTORIN 3.0 technology platform, which is designed to deliver medicines locally through topical formulations. Palvella has applied the platform to investigational therapies for rare genetic skin disorders and other localized diseases, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella is headquartered in Wayne, Pennsylvania, and conducts research and development activities aimed at serving rare-disease patients in the United States and other potential international markets.